The offer of Lasco Group shares closed three minutes after opening on Wednesday morning.
Lead broker in the offer, Mayberry Investments, said it stopped accepting offers for Lasco shares just minutes after opening the offer, because it was oversubscribed.
Lasco went to the market to raise $415 million for its three companies: Lasco Distributors, Lasco Manufacturing, and Lasco Financial Services.
Mayberry Investments said it had applications in excess of $650 million for the offer.
The brokerage house says investors who were not able to buy Lasco shares in the IPO, will have another opportunity to buy those shares, soon.
That opportunity will be given once the three Lasco-affiliated companies are listed, on the Jamaica Stock Exchange.
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